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EMSA.L vs. EMGB.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EMSA.L vs. EMGB.L

Last updated Jun 5, 2026

EMSA.L (iShares J.P. Morgan ESG USD EM Bond UCITS ETF USD (Acc)) and EMGB.L (VanEck J.P. Morgan EM Local Currency Bond UCITS ETF) are both Emerging Markets Bonds funds - EMSA.L tracks the JPM EMBI Global Diversified TR USD while EMGB.L tracks the JPM GBI-EM Global Diversified TR USD. Both are passively managed. Over the past 5 years, EMSA.L returned 1.36%/yr vs 1.19%/yr for EMGB.L. At a 0.47 correlation, their price movements are largely independent. EMSA.L charges 0.45%/yr vs 0.30%/yr for EMGB.L.

Performance

EMSA.L vs. EMGB.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares J.P. Morgan ESG USD EM Bond UCITS ETF USD (Acc) (EMSA.L) and VanEck J.P. Morgan EM Local Currency Bond UCITS ETF (EMGB.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

EMSA.L is traded in USD, while EMGB.L is traded in GBP. To make them comparable, the EMGB.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, EMSA.L achieves a 1.61% return, which is significantly higher than EMGB.L's 0.99% return.

EMSA.L

1D
0.20%
1M
1.06%
YTD
1.61%
6M
2.19%
1Y
10.63%
3Y*
9.08%
5Y*
1.36%
10Y*
—

EMGB.L

1D
0.08%
1M
0.90%
YTD
0.99%
6M
2.16%
1Y
9.12%
3Y*
6.79%
5Y*
1.19%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

EMSA.L vs. EMGB.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
EMSA.L
iShares J.P. Morgan ESG USD EM Bond UCITS ETF USD (Acc)		1.61%13.11%5.32%9.71%-18.78%-3.11%6.03%15.79%-0.63%
EMGB.L
VanEck J.P. Morgan EM Local Currency Bond UCITS ETF		0.99%18.54%-2.61%9.78%-10.08%-9.53%2.25%10.35%1.90%

Correlation

The correlation between EMSA.L and EMGB.L is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.47

Correlation (3Y)
Calculated over the trailing 3-year period

0.46

Correlation (5Y)
Calculated over the trailing 5-year period

0.49

Correlation (All Time)
Calculated using the full available price history since Sep 27, 2018

0.47

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares J.P. Morgan ESG USD EM Bond UCITS ETF USD (Acc)

VanEck J.P. Morgan EM Local Currency Bond UCITS ETF

Often compared with EMSA.L:
EMSA.L vs. CXEMSA.L vs. XUEB.LEMSA.L vs. SEMH.LEMSA.L vs. VDEA.LEMSA.L vs. XUEM.LEMSA.L vs. GLDEMSA.L vs. QTOP
Often compared with EMGB.L:
EMGB.L vs. EMLI.LEMGB.L vs. EMLO.LEMGB.L vs. SEML.LEMGB.L vs. TDIV.ASEMGB.L vs. EMDL.LEMGB.L vs. SBEM.LEMGB.L vs. VEMA.L

Return for Risk

EMSA.L vs. EMGB.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EMSA.L
EMSA.L Risk / Return Rank: 5959
Overall Rank
EMSA.L Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
EMSA.L Sortino Ratio Rank: 6767
Sortino Ratio Rank
EMSA.L Omega Ratio Rank: 6161
Omega Ratio Rank
EMSA.L Calmar Ratio Rank: 5050
Calmar Ratio Rank
EMSA.L Martin Ratio Rank: 5858
Martin Ratio Rank
EMGB.L
EMGB.L Risk / Return Rank: 5454
Overall Rank
EMGB.L Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
EMGB.L Sortino Ratio Rank: 6464
Sortino Ratio Rank
EMGB.L Omega Ratio Rank: 6161
Omega Ratio Rank
EMGB.L Calmar Ratio Rank: 4444
Calmar Ratio Rank
EMGB.L Martin Ratio Rank: 4040
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EMSA.L vs. EMGB.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan ESG USD EM Bond UCITS ETF USD (Acc) (EMSA.L) and VanEck J.P. Morgan EM Local Currency Bond UCITS ETF (EMGB.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

EMSA.LEMGB.LDifference
Sharpe ratioReturn per unit of total volatility
1.93
1.35

+0.58

Sortino ratioReturn per unit of downside risk
3.02
1.94

+1.08

Omega ratioGain probability vs. loss probability

1.37

1.25

+0.11

Calmar ratioReturn relative to maximum drawdown

2.47

1.45

+1.01

Martin ratioReturn relative to average drawdown

10.09

4.89

+5.20

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMSA.L vs. EMGB.L - Sharpe Ratio Comparison

The current EMSA.L Sharpe Ratio is 1.93, which is higher than the EMGB.L Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of EMSA.L and EMGB.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

EMSA.LEMGB.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.93

1.35

+0.58

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.16

0.14

+0.02

Sharpe Ratio (All Time)

Calculated using the full available price history

0.33

0.11

+0.22

Drawdowns

EMSA.L vs. EMGB.L - Drawdown Comparison

The maximum EMSA.L drawdown since its inception was -29.12%, which is greater than EMGB.L's maximum drawdown of -27.18%. Use the drawdown chart below to compare losses from any high point for EMSA.L and EMGB.L.

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Drawdown Indicators

EMSA.LEMGB.LDifference

Max Drawdown

Largest peak-to-trough decline

-29.12%

-27.18%

-1.94%

Max Drawdown (1Y)

Largest decline over 1 year

-4.29%

-6.25%

+1.96%

Max Drawdown (3Y)

Largest decline over 3 years

-7.28%

-8.96%

+1.68%

Max Drawdown (5Y)

Largest decline over 5 years

-28.91%

-25.02%

-3.89%

Current Drawdown

Current decline from peak

-0.22%

-2.69%

+2.47%

Average Drawdown

Average peak-to-trough decline

-8.06%

-9.88%

+1.82%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.05%

1.86%

-0.81%

Volatility

EMSA.L vs. EMGB.L - Volatility Comparison

The current volatility for iShares J.P. Morgan ESG USD EM Bond UCITS ETF USD (Acc) (EMSA.L) is 2.09%, while VanEck J.P. Morgan EM Local Currency Bond UCITS ETF (EMGB.L) has a volatility of 2.23%. This indicates that EMSA.L experiences smaller price fluctuations and is considered to be less risky than EMGB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EMSA.LEMGB.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.09%

2.23%

-0.14%

Volatility (6M)

Calculated over the trailing 6-month period

4.47%

5.66%

-1.19%

Volatility (1Y)

Calculated over the trailing 1-year period

5.49%

6.72%

-1.23%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

8.46%

8.69%

-0.23%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

9.76%

9.36%

+0.40%

EMSA.L vs. EMGB.L - Expense Ratio Comparison

EMSA.L has a 0.45% expense ratio, which is higher than EMGB.L's 0.30% expense ratio.

Dividends

EMSA.L vs. EMGB.L - Dividend Comparison

Neither EMSA.L nor EMGB.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

EMSA.L and EMGB.L have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, EMGB.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

EMGB.L is cheaper with a 0.30% expense ratio, compared with 0.45% for EMSA.L.

EMSA.L tracks JPM EMBI Global Diversified TR USD, while EMGB.L tracks JPM GBI-EM Global Diversified TR USD. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.45% for EMSA.L and 0.30% for EMGB.L.

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